Royal Bank of Canada

International Banks remains in a clear advancing regime with both long-term and medium-term trends bullish, underpinned by rising EMAs and a continuation pattern. In the short term, price is extended and overbought, suggesting patience is warranted before engaging. We will stalk for pullbacks into support to align with the prevailing uptrend.

• ↑Adjusted earnings CAD5.6 bn (+25% YoY) with 17.2% ROE underscores strong profitability.
• ↑CET1 ratio at 13.5% signals robust capital adequacy for growth.
• ↓Gross impaired loans climbed to CAD9.8 bn, raising credit risk.